Stocks making the biggest moves midday: RPT Realty, Mister Car Wash, Boston Scientific, 3M and more
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Check out the companies making headlines in midday trading.
RPT Realty — RPT Realty shares surged 19% after Kimco Realty, an operator of open-air shopping centers, said it would acquire the real estate investment trust in a roughly $2 billion all-stock deal. Kimco CEO Conor Flynn said, «Approximately 70% of RPT's portfolio aligns with our key strategic markets.» The deal is set to close in early 2024.
Mister Car Wash — The car wash stock advanced 7% on the back of an upgrade to overweight from neutral by Piper Sandler. The firm said the company has potential for growth that investors are overlooking.
Boston Scientific — The medical device maker jumped 5% after Boston Scientific announced positive results Sunday for its treatment for patients with atrial fibrillation, or abnormal heartbeats.
CrowdStrike — CrowdStrike fell more than 3% after Morgan Stanley downgraded shares to equal weight from an overweight rating, citing caution and concerns of potentially slowing revenue growth ahead of the software company's upcoming earnings report.
3M — The industrial stock jumped by 5% after Bloomberg reported that 3M had reached a tentative deal to settle lawsuits over its combat ear plugs. The deal would cost 3M more than $5.5 billion, according to the report, which cited people familiar with the arrangement.
Akero Therapeutics — Akero Therapeutics added 4% in midday trading. UBS initiated coverage of Akero with a buy rating, saying the biotech company's treatment for non-alcoholic steatohepatitis could tap into an underappreciated market opportunity.
Alibaba Group, JD.com — Alibaba and JD.com each added more than 2% after the Chinese government announced measures to boost its stock market, including reducing a
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